Guideline Value for TANKVIEW 1ST STREET

Tankview 1st Street guideline value

The current guideline value of Tankview 1st Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Tankview 1st Street has changed

The guideline value for Tankview 1st Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 80 per sq.ft. This increased to Rs 100 per sq.ft in 2003, marking a 25% rise. The value then jumped significantly to Rs 400 per sq.ft in 2007, reflecting a 300% increase. Following this, the 2012 revision set the value at Rs 1,200 per sq.ft, which was a 200% increase from the previous figure. The latest revision in 2024 has further raised the value to Rs 1,320 per sq.ft, a 10% increase from 2012.

It is important to note that there are no figures available for the revisions in 2017 and 2023 for this street.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, which means that Tankview 1st Street's 2024 figure is below that median.

• Tankview 2nd Street: Rs 1,320 per sq.ft (2024)
• Tankview Street: Rs 1,320 per sq.ft (2024)
• Tamizhar Quarters Extn.: Rs 1,650 per sq.ft (2024)
• Tamizhar Quarters: Rs 1,650 per sq.ft (2024)
• Syndicate Bank Colony: Rs 2,750 per sq.ft (2024)
• Thaai Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Tankview 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to remember that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Tankview 1st Street?

The Sub Registrar Office that covers Tankview 1st Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Pallikaranai

The guideline value plays a crucial role in the registration process of property transactions in Pallikaranai. When a property is sold, the buyer and seller must consider the guideline value for calculating the stamp duty and registration fees, as these are based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers to ensure compliance with legal requirements during property transactions. It helps in determining the financial obligations associated with the registration process, making it a vital aspect of real estate dealings in the area.

Frequently asked questions

What is the current guideline value of Tankview 1st Street?

The current guideline value of Tankview 1st Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 80 per sq.ft to Rs 1,320 per sq.ft in 2024, marking an overall increase of 1550%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles property registrations for Tankview 1st Street?

The Chennai South Joint I Sub Registrar Office handles property registrations for Tankview 1st Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

Are there any years without guideline value figures for this street?

Yes, the revisions for the years 2017 and 2023 do not have any figures available for Tankview 1st Street.